HC Wainwright Reiterates Buy Rating for Cartesian Therapeutics (NASDAQ:RNAC)

HC Wainwright reissued their buy rating on shares of Cartesian Therapeutics (NASDAQ:RNAC - Free Report) in a report published on Wednesday,Benzinga reports. HC Wainwright currently has a $40.00 price target on the stock.

RNAC has been the topic of several other research reports. BTIG Research initiated coverage on shares of Cartesian Therapeutics in a report on Thursday, December 19th. They issued a "buy" rating and a $42.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a report on Thursday, March 13th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Cartesian Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $42.14.

Cartesian Therapeutics Stock Up 13.2 %

Shares of Cartesian Therapeutics stock traded up $1.41 on Wednesday, reaching $12.08. The company's stock had a trading volume of 42,434 shares, compared to its average volume of 116,502. Cartesian Therapeutics has a 52 week low of $8.85 and a 52 week high of $41.87. The firm's fifty day simple moving average is $16.06 and its two-hundred day simple moving average is $18.40. The company has a market capitalization of $312.96 million, a price-to-earnings ratio of -0.23 and a beta of 0.55.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RNAC. Rhumbline Advisers boosted its stake in shares of Cartesian Therapeutics by 27.5% during the 1st quarter. Rhumbline Advisers now owns 13,006 shares of the company's stock worth $171,000 after purchasing an additional 2,805 shares during the period. MPM Bioimpact LLC boosted its position in shares of Cartesian Therapeutics by 14.6% during the fourth quarter. MPM Bioimpact LLC now owns 721,139 shares of the company's stock valued at $12,916,000 after buying an additional 91,716 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Cartesian Therapeutics by 197.8% during the fourth quarter. Nuveen Asset Management LLC now owns 72,099 shares of the company's stock valued at $1,291,000 after buying an additional 47,889 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cartesian Therapeutics by 44.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,786 shares of the company's stock worth $104,000 after buying an additional 1,789 shares during the period. Finally, Bank of America Corp DE grew its position in Cartesian Therapeutics by 54.4% in the 4th quarter. Bank of America Corp DE now owns 11,690 shares of the company's stock valued at $209,000 after acquiring an additional 4,120 shares during the last quarter. Institutional investors own 86.95% of the company's stock.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, Inc, a clinical-stage biotechnology company, engages in the provision of mRNA cell therapies for the treatment of autoimmune diseases. It develops Descartes-08, an autologous anti-BCMA RNA-engineered chimeric antigen receptor T-cell therapy, currently under Phase 2b clinical development for generalized myasthenia gravis, as well as for patients with systemic lupus erythematosus, and myeloma autoimmune basket trials for other autoimmune diseases.